Income streams

Access your super, your way

Retirement used to be a sharp and sudden change – one day you were working, the next you were sitting at home with the rest of your life ahead of you. Today, you have options to help you achieve a seamless transition into retirement.

After years of working, it’s now your chance to spend time doing what you love. We want you to have the freedom and flexibility you pictured in retirement and we have the products to help you achieve it.

Make your super work for you

With a Vision Income Stream, your super can remain invested whether you’ve already retired or are nearing retirement. There are two types of Vision Income Streams you may be eligible to apply for:

  • The Vision Non-commutable Allocated Pension, if you are still working
    and have reached your preservation age.
  • The Vision Allocated Pension, if you have retired and reached your preservation
    age (or retired through total and permanent disability), or are aged at least 65.

For more information on transitioning to retirement, read our fact sheet here.

Advice 

We recommend that you seek professional financial advice before applying for any allocated pension.

Book an appointment

Vision Allocated Pension

Vision Allocated Pension

Retiring soon and want to make the most of your retirement savings? The Vision Allocated Pension is an easy, low-cost option to provide yourself a regular, tax-effective income over time.

Tax benefits:

  • No tax and no withdrawal fees (buy/sell spreads may apply) on the money in your pension account.
  • No tax on any investment returns in your pension account. This may increase the value and longevity of your pension.
  • Maximise your eligibility for some Age Pension payments, as generally Centrelink treats only part of the income received from an allocated pension as assessable income. Eligibility depends on individual circumstances.
If you transfer more than $1.6 million or have more than that amount in your account-based pension come 1 July 2017, additional taxes and penalties may apply. Whether an account based pensions is tax effective will depend on your circumstances, so it’s important to ensure you’re across any tax implications before making a decision

Account features:

  • No joining fee, withdrawal fee, exit fee, investment switch fee, adviser fee, performance fees or commissions.
  • $10,000 minimum establishment amount.
  • 0.35% account keeping fee. If your account balance is above $300,000, your administration fee is capped at a balance of $300,000 (maximum of $1,050), (buy/sell spreads may apply).
  • Personal financial advice.
  • No loss of unused capital if you die. Unused capital will be paid to your nominated beneficiary (may be subject to the fund Trustee’s discretion).

Eligibility:

  • You must have reached your preservation age and be retired, or retired through total and permanent disability, or be aged at least 65 to be eligible to start an allocated pension.

Apply for a Vision Allocated Pension

Apply for a Vision Allocated Pension

Follow these steps to apply

1 Download and read the Vision Income Streams Product Disclosure Statement

2 Complete the Allocated Pension application form which is in the Product Disclosure Statement

3 Return the application form to:

Vision Super
PO Box 18041
Collins Street East
Melbourne, Victoria 8003

If you’d like to nominate a beneficiary, read Section 17 of the PDS, and then return a beneficiary form with your application form.

Non-commutable Allocated Pension

Non-commutable Allocated Pension

The Non-commutable Allocated Pension (NCAP) is designed to help older Australians transition to retirement by allowing them to access some of their superannuation without having to retire.

Tax benefits:

  • Investment earnings on your NCAP are subject to the same 15% that applies to super accounts.
  • If you’re between 55 and 60, the taxable component of your pension will be included in your assessable income and taxed at your marginal tax rate. A 15% tax offset is available to reduce the amount of tax you pay.
  • If you're aged 60 or over, your pension income is tax free.

Account features:

  • No joining fee, withdrawal fee, exit fee, investment switch fee, adviser fee, performance fees or commissions (buy/sell spreads may apply).
  • $10,000 minimum establishment amount.
  • 0.35% account keeping fee. If your account balance is above $300,000, your administration fee is capped at a balance of $300,000 (maximum of $1,050), (buy/sell spreads may apply).
  • Personal financial advice.
  • No loss of unused capital if you die. Unused capital will be paid to your nominated beneficiary (subject to the fund Trustee’s discretion).

Eligibility

  • You must have reached your preservation age to be eligible to apply for the Vision Non-commutable Allocated Pension.

Apply for a Non-commutable Allocated Pension

Apply for a Non-commutable Allocated Pension

Follow these steps to apply

1 Download and read the Vision Income Streams Product Disclosure Statement

2 Complete the Non-commutable Allocated Pension application form in the Product Disclosure Statement (PDS).

3 Return the application form to:

Vision Super
PO Box 18041
Collins Street East
Melbourne, Victoria 8003

Preservation age for allocated pensions

Preservation age for allocated pensions

Age at which you can access your super
Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 - 30 June 1961 56
1 July 1961 - 30 June 1962 57
1 July 1962 - 30 June 1963 58
1 July 1963 - 30 June 1964 59
After 30 June 1964 60

 Please note:

  • Your super income is only tax-free at the age of 60.
  • Lump sum withdrawals are permitted on permanent retirement from the age of 60, or at age 65 even if you are still working.

We can help you with your pension

We can help you with your pension

Sit down with a Vision Super financial planner to discuss how to use your allocated pension to maximise your retirement savings.

Book an appointment with a financial planner

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